NLIHC Finds 72% of Extremely Low-Income Renters in NJ are Cost Burdened

Join NLIHC this Afternoon for Twitter Chat About Recent National Findings in The Gap Report and Practical Solutions to the Housing Crisis

This afternoon, join the National Low Income Housing Coalition (NLIHC) for a Twitter chat about the findings in its report The Gap: A Shortage of Affordable Homes 2019. The chat will discuss practical solutions and take place from 3:00 p.m. – 3:30 p.m. You can follow the discussion using #TheGap19 and share questions for the reports’ authors.

Click here for a CityLab op-ed from NLIHC President and CEO Diane Yentel about the report The report finds a shortage of 7 million affordable and available rental homes for households with extremely low incomes at or below the poverty guideline or 30% of the area median income (AMI), whichever is higher.

Seventy-one percent of extremely low-income households are severely housing cost-burdened, spending more than half of their incomes on housing. Extremely low-income renters are more likely to be severely housing cost-burdened than any other income group, accounting for 73% of all severely housing cost-burdened renters in the U.S. The report calls for a significant and sustained federal commitment to affordable housing programs targeted at the lowest-income renters.

Click here for more information and to add the Twitter Chat to your calendar.

Use this opportunity to join a public conversation around the solutions outlined in The Gap. Even if you don’t have a question to ask, you can retweet the Twitter conversation to help educate others on the importance of the report.

The report found that in New Jersey in 2017, there were almost 300,000 extremely low income renters. At the same time, there is a shortage of over 200,000 affordable and available rental units for households at or below extremely low income.

To meet the needs of New Jersey’s low-income renters, there are only 33 affordable and available rental homes for every 100 low income households. Seventy-two percent (72%) of extremely low-income renters households have a severe cost burden.

The report also breaks down the data about the shortage of affordable homes into the following metropolitan areas that include parts of New Jersey – New York City/Newark/Jersey City and Philadelphia/Camden/Wilmington.

The report calls for increasing investments in housing solutions for the lowest-income people such as the national Housing Trust Fund, Housing Choice Vouchers, and public housing; protecting the existing supply of affordable homes; expanding and improving the Low Income Housing Tax Credit so it serves more of the lowest-income families; and implementing a renters’ tax credit that targets low-income renters.

Click here for the full The Gap report and interactive map.